Over the last few years there has been some confusion about the Aspen Gold Credit Card Issuer and that this is a con. This is certainly not the case. The Aspen Gold Credit Card is really designed foe individuals with less than perfect credit though there are many card holders that have a very good credit score. The card is issued by First Bank and Trust out of South Dakota. In April, 2006, what was known as the First American Bank & Trust in South Dakota was purchased by Fishback Financial and the name subsequently changed to First Bank & Trust. The initial bank was incorporated in Madison, South Dakota in the late 1800’s and despite changing ownership several times throughout the years has still maintained a healthy customer base and good reputation. The bank is associated with the issuing of the Aspen Gold Credit Card and is proud to do so. The card as mentioned earlier in this post is really geared towards people with less than stellar credit scores. The card carries several notable features. These include: (please note that all dollar amounts are quoted in US currency).

• APR* is 19.75% for purchases
• Cash Advance APR is 25.75%.
• Delinquency APR for Purchases is 25.75%.
• Delinquency APR for Cash Advances is 31.75%
• Annual Fee is $150 per year
• Account Opening Fee is $29 (one time fee)
• Monthly Maintenance Fee is $78 annualized ($6.50 per month)
• Transaction Fee for Cash Advances is 5% of the advance with a $5 minimum
• Late Payment Fee of $35
• Over-Limit Fee of $35
• There is NO minimum finance charge or transaction fee for purchases.

There are of course other clauses to the Aspen Gold Credit Card that will lead to fees and other fines. However if you keep your credit card in good order you will not have a problem and you would be able to get the credit card in good condition. There are of course several rules to using the Aspen Credit Card and any other card for that matter:

• Don’t Exceed Your Limit
• Pay On Time
• Pay More than Your Minimum Payment

If you follow these three (3) basic rules then you won’t have any problems in maintaining good credit with the Aspen card or any other credit card. You can contact the First Bank and Trust in South Dakota for further information about the card offer at Phone at 605.978.1150 and Fax at 605.361.4342. This is an excellent card in our opinion for some one with bad credit. It helps to build credit score with an average but lower charges than many other credit cards for people with bad credit. To apply online you will need to send an email to Aspen Credit Card. They are currently not accepting any new applications at this time however you can email them with some particulars and they would be all too happy to assist you. Otherwise you can contact them TOLL FREE to APPLY: 1-888-866-6807.

* – APR means Annual Percentage Rate

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Credit card debt is at time a seemingly insurmountable problem that many people struggle to get over. Regardless of the credit card company that issues the service you will need to first comprehend exactly how a credit card works, its true purpose to the issuer and its true purpose to the card holder. Credit card interest is shown as an annual percentage rate or what is better know as APR this is the fee charged by the bank for using the credit card or borrowing the money. The concept is based on the bank allowing a card holder to spend cash in the present or immediately that would otherwise take the card holder a long time to accumulate or amass. The banks and card issuers are compensated for providing credit card holder by charging and collecting these interest charges. This is the benefit to the card holder and the card issuer. By 2004 the average credit card debt per household was in excess of USD$4,000; this translated into a USD$800 payment per year on credit card interest. Credit card debt has become almost 50% of total American consumer debt which in 2004 stood at approximately USD$1.5 trillion, a staggering figure of USD$19,000 per household. We examine a 5 step programme of how to get out of credit card debt.

A.) STOP USING YOUR CREDIT CARD – Most card holders pay their minimum payment and a little extra and then use the card for other purchases. This practice must stop immediately.

B.) PAY MORE THAN YOUR MINIMUM PAYMENT – Card holders must begin to pay more than the minimum payment. This will clear the interest and continue to reduce the principal amount that the interest is calculated on.

C.) CONSOLIDATE DEBTS – Paying on several cards can lead to bankruptcy, the most prudent way of avoiding costly debt over time is to shop around for the lowest rate on debt consolidation and then apply options A & B.

D.) DON’T CREATE NEW DEBTS – If during you struggle to clear credit card debt you will be tempted to use and accept new credit card offers. This is a major dilemma that will lead to more massing debts.

E.) CREATE A SAVINGS/CHEQUING ACCOUNT – Using a savings account to clear your debts is an apt way of building a good credit score that shows good repayments and proper saving and spending habits. This is the final step and a sure way to recovery.

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